PUBLIC LAW 102-242—DEC. 19, 1991 105 STAT. 2283 "(A) PRIVATE DEPOSIT INSURER.— The private deposit insurer shall provide a copy of the audit report— "(i) to each depository institution the deposits of which are insured by the private deposit insurer, not later than 14 days after the audit is completed; and "(ii) to the appropriate supervisory agency of each State in which such an institution receives deposits, not later than 7 days after the audit is completed. "(B) DEPOSITORY INSTITUTION. —Any depository institution the deposits of which are insured by the private deposit insurer shall provide a copy of the audit report, upon request, to any current or prospective customer of the institution. "(b) DISCLOSURE REQUIRED. —Any depository institution lacking Federal deposit insurance shall, within the United States, do the following: " (1) PERIODIC STATEMENTS; ACCOUNT RECORDS. — Include conspicuously in all periodic statements of account, on each signature card, and on each passbook, certificate of deposit, or similar instrument evidencing a deposit a notice that the institution is not federally insured, and that if the institution fails, the Federal Government does not guar;antee that depositors will get back their money. "(2) ADVERTISING; PREMISES.— Include conspicuously in all advertising and at each place where deposits are normally received a notice that the institution is not federally insured. "(3) ACKNOWLEDGMENT OF RISK.—Receive deposits only for the account of persons who have signed a written acknowledgment that the institution is not federally insured, and that if the institution fails, the Federal Government does not guarantee that they will get back their money. "(c) MANNER AND CONTENT OF DISCLOSURE. —To ensure that current and prospective customers understand the risks involved in foregoing Federal deposit insurance, the Federal Trade Commission, by regulation or order, shall prescribe the manner and content of disclosure required under this section. " (d) EXCEPTIONS FOR INSTITUTIONS NOT RECEIVING RETAIL DE- POSITS. —The Federal Trade Commission may, by regulation or order, make exceptions to subsection (b) for any depository institution that, within the United States, does not receive initial deposits of less than $100,000 from individuals who are citizens or residents of the United States, other than money received in connection with any draft or similar instrument issued to transmit money. " (e) ELIGIBILITY FOR FEDERAL DEPOSIT INSURANCE. — "(1) IN GENERAL.— Except as permitted by the Federal Trade Commission, in consultation with the Federal Deposit Insurance Corporation, no depository institution (other than a bank, including an unincorporated bank) lacking Federal deposit insurance may use the mails or any instrumentality of interstate commerce to receive or facilitate receiving deposits, unless the appropriate supervisor of the State in which the institution is chartered has determined that the institution meets all eligibility requirements for Federal deposit insurance, including— "(A) in the case of an institution described in section 19(b)(l)(A)(iv) of the Federal Reserve Act, all eligibility requirements set forth in the Federal Credit Union Act and
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